If there is speed, then the whole world will be shocked. The speed of the rupee in the dollar was seen on Friday. If you look at the data, in the last two months, the second biggest rise has been seen in the rupee against the dollar. On February 11, the rupee closed with a gain of 68 paise. This time i.e. on Friday 11 March, the rupee closed with a gain of 61 paise. After which the rupee closed at 86.07 level in the dollar. However, during the trading session on Friday morning, the rupee was seeing a rise of 51 paise. It was expected that the rupee would break all the records of fast, but it did not happen. Even after that, everyone was surprised to see the rise of the rupee.
According to the experts, the speed with which the rupee has jumped, the dollar has taken a dip. During the business session, there is a decline of more than percent in the rupee. It is estimated that the dollar may come to the level of index 95. If this happens, the rupee can be seen at the level of 83 or better in the match. It is also told you at which level the rupee has come in the currency market.
The rupee rose by 61 paise to close at 86.07 (provisional) against the dollar on Friday due to a sharp decline in US dollar and a strong boom in domestic stock markets. The rupee jumped a day after US President Donald Trump suspended 26 percent tariff on India by 9 July. The rupee opened 46 paise to 86.22 against the US dollar in the Interbank Forex Exchange Market. It rose by 85.95 during the intra-day trade and then rose by 61 paise to close at 86.07 (provisional) against the dollar. The rupee closed at 86.68 on Wednesday. Before that, equity, foreign currency and commodity markets remained closed on Thursday to commemorate Shri Mahavir Jayanti.
Finrex Treasury Advisors LLP’s Treasury Head and Executive Director Anil Kumar Bhansali said that the rupee opened at 86.22, but the dollar was immediately sold, as the dollar index went below 100 levels for the first time in three years. He said that after the holiday on Monday, the rupee is expected to be in the radius of 85.75-86.25 on Tuesday next week. Meanwhile, the dollar index, which measures the dollar strength against six currencies, fell 1.52 percent to 99.335. Bhansali said that with China imposing 125 percent tariff on US exports, the trade war continues, but the dollar is falling against Asian and European (currencies).
The 30 -share BSE Sensex in the domestic stock market rose 1,310.11 points to close at 75,157.26 points, while the Nifty rose 429.40 points to 22,828.55 points. Global oil benchmark Brent crude reached a slight increase of 0.08 percent to $ 63.38 per barrel in crude futures trading. According to exchange data, foreign institutional investors (FIIs) on Wednesday sold equity worth Rs 4,358.02 crore on a pure basis.
